You can now pay cash into your Monzo account!


(Beatrice Borbon) #1

From today you can pay cash into your account at any PayPoint store!

Here’s how it works👇

And if you want to know more about the charges, limits and our thinking behind them, @nickrw’s shared a detailed update here that’s worth reading!


Cash Deposits
Cash deposit charge query
Monzo should use the post office instead of paypoint
Lower the amout of days in which you can deposit cash at paypoint
#2

:partying_face:


(Stephen Robinson) #3

Fantastic. Fee is fine to me as I would very rarely deposit cash, but it’s good to know that I can.


#4

Kinda wish I had cash to deposit just to try it out :joy:


(Jack) #5

Fantastic! Quick rollout too from when we first got a sneak peak.

Look forward to using this in the future! :dollar:


#6

same here


(Andre Borie) #7

You can deposit between £5-300 in one go. And you can pay in a maximum of £1,000 every six months.

Just wondering why the limit is there. You say it’s to prevent financial crime but how do the other banks manage this given they don’t seem to have such low limits?


(Micky) #8

Other banks have now implemented restrictions on who can deposit money into an account. This means only the account holder can pay money into the account. With Paypoint anyone with access to your card could pay in money. We ran into this problem 2 weeks ago when trying to pay money into a family members account


(Scott) #9

Great don’t pay in cash an awful lot, but great to know we now have the option :smiley:


#10

Amazing! I’ll be depositing later today !


#11

Not massively Impressed to be honest charging to put money in your account and £300 limit. I’ll be keeping my second account with Halifax for time being. How come other banks don’t charge if you use post office to deposit for example?


#12

I use Monzo every day and as main account but I still can’t get rid of my other current account just yet.


(Adam) #13

It’s all explained in the blog post


(Karl) #14

That’s a very healthy balance. Must not live in London…


(Marcus Nailor, Hot Coral Detective) #15

Just used it for the first time :tada: (successfully at least… I was the first Monzo user to have a failed PayPoint topup :sunglasses: - a couple of weeks ago)

Anyway :smiley: The Monzo-side experience was perfect, notification, 10 minute wait, money in the account available to do with what I please :grin:

The PayPoint-side of things was less seamless… :sweat_smile: (nothing I couldn’t cope with though :wink:)

I handed my card over, there was a triple take… “Mastercard?!”, “Monzo?”, “TopUp?” - a bunch of confusion, 3 failed attempts (as the cashier was inserting my card instead of swiping it - very important).

So I asked them to take a photo of the error message, I was prepared to disappointed that it hadn’t been enabled across all of PayPoint’s network but then I realised the cashier was inserting my card into the machine, I asked them to swipe it (for attempt number 4 :stuck_out_tongue_winking_eye:) and tada! It worked :tada:

So just a word of advice, make sure that the person operating the PP machine swipes your card and doesn’t insert it :slight_smile:
Perhaps that should be added to the Add Money screen @nickrw? :slight_smile:


More Helpful PayPoint Screen :pound:
#16

Absolutely terrible idea. You should not have to pay to put cash into your own account. I appreciate you’re trying to find solutions and the accessibility of Pay Point is good but you need to do better.


(Dan Mullen) #17

Why the lower limit of £500 every six months for 16-17 year olds?


(Sam Clarke) #18

I’d rather be able to pay in money via the Post Office like you can with most other UK banks (plus Starling). Plus there is no fee…Any chance this will be added?


(Ben) #19

Congratulations Monzo :grinning:. Although I don’t like the charge they have done something unique first UK bank to partner with Paypoint.

Advantages over Post office is convience

What bank could possible let you deposit cash at 5am (because my shop near me opens at 5am)
Monzo does

Just to clarify I won’t be lol.


#20

Really expensive and unreliable… £1000 limit per 180 days?
So if I need to deposit £1000 in one go I have to pay £4 fee…